Singapore's Temasek Holdings, one of the world's largest sovereign wealth funds, said the size of its portfolio soared to a record high in the financial year ending March 2013, even as profits showed a slight dip.
At its annual earnings review on Thursday, the AAA-rated wealth fund said the value of its investments rose to 215 billion Singapore dollars ($168 billion) in the year, an 8.6 percent increase from the year before.
In the last financial year, Temasek made investments worth 20 billion Singapore dollars in several companies including Spanish oil company Repsol, Singapore-based agricultural commodities company Olam and German chemicals company Evonik.
However, the fund - headed by Ho Ching, the wife of the country's Prime Minister Lee Hsien Loong - reported net income that fell slightly to 10.6 billion Singapore dollars from 10.7 billion the year before, driven by lower contributions from companies in its portfolio.
"We cannot be completely divorced form the market. Seventy percent of our portfolio is listed, if the markets are in very negative territory, we can't run away from the fact that we would be impacted in that particular year. And we did feel the influence of the over the last two years," said Rohit Sipahimalani, Temasek's co-chief investment officer, at a press conference.
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